We make the Pre-approval process smooth and easy.

Contact us today and one of our Mortgage Advisors will help guide you through the home purchasing process.  A good pre-approval is a great way to learn how much you are approved for before you go out and find your dream home.  We strive to make your experience as smooth and easy as possible.  We want to help bring you HOME.

Fixed Rate Mortgages Keep Your Budget Consistent.

Get ready to move in with a fixed rate mortgage from F&M Mortgage. A fixed rate loan gets you the money you need at a fixed interest rate you can depend on for years. Our Mortgage Advisors guide you through your application and our in-house underwriters and processors provide a smooth and seamless approval process. Our fixed rate loans include:

Conventional

F&M Mortgage offers conventional fixed rate loans for those with competitive credit scores who also plan to apply a downpayment.

VHDA

Eligible First-time Homebuyers may qualify for one of the many low to no down payment loan options thru VHDA.

VA Loans

The Veterans Administration guarantees all VA loans so F&M Mortgage can give current and retired service members and eligible surviving spouses more competitive rates on their home mortgage.

USDA Rural Development Loans

USDA Rural Development Loans are ideal for those purchasing homes in eligible rural areas and you can borrow up to 100% of the sales price.

FHA

FHA Loan is a great government insured loan for a consumer that is looking for a low down payment.

Investment Property

Ideal for those looking to build a financial portfolio, a 20% down payment is required, and it can be a fixed rate or an adjustable rate

Spark Loan

100%, Zero Down Mortgage that is ideal for First-Time Home Buyers.

Low Interest Rates Make Adjustable Rate Mortgages An Attractive Option.

Adjustable rate mortgages (ARMs) allow borrowers to get low interest rates for a fixed period of time followed by variable rates after the fixed rate period expires. ARMs adjust up or down based on the index they are tied to. Fixed rate periods can last from one month to ten years making an adjustable rate mortgage ideal for homeowners spending fewer than 10 years in their home or anticipating higher incomes in the years ahead.

Long term planning can help you determine if an adjustable rate mortgage is right for you. For example, if you plan on moving within the window of your fixed rate period, an adjustable rate mortgage might work well for you. For borrowers expecting an increase in income over the course of their loan, an adjustable rate mortgage gets them less expensive payments early in the loan with higher payments expected later.

Most adjustable rate mortgages have caps on the interest rates. Prior to agreeing to your loan, you’ll know how high your monthly payment could be after the initial fixed rate period ends. By minimizing your risks and planning for your future, you’ll be prepared if your rates increase.

VA Loans Honor Our Armed Forces.

The Veterans Administration guarantees all VA loans so F&M Mortgage can give current and retired service members and eligible surviving spouses more competitive rates on their home mortgage. Our experienced team helps you determine the eligibility requirements and paperwork necessary to apply for VA loans. This is a great option for qualified veterans to receive up to 100% financing.

USDA – Rural Development Loans Offer 100% Financing.

Borrow up to 100% of the sales price in eligible rural areas. Please contact one of our Mortgage Advisors to learn about the programs, income limits, property eligibility and the details on this loan program.

VHDA – Virginia Housing Development Authority – Great Loan Program For First-time Homebuyers.

Eligible First-time Homebuyers may qualify for one of the many low to no down payment loan options thru VHDA. Contact one of our Mortgage Advisors to consult and learn about possible down payment assistance.

Become A Homeowner With No Money Down. F&M Mortgage Offers Buyers a Variety of No Money Down Options.

The Mortgage Advisors at F&M Mortgage guide you through the eligibility requirements and paperwork to find a fixed rate or adjustable rate mortgage that works for you.

What To Bring When Applying

Certain documents are required for your loan package. Here is a listing of items you will need to collect and have ready to process a mortgage loan:

On your first visit to let us pre-qualify you, please bring:

  • Copies of Your Photo Id
  • 1 months worth of pay stubs
  • Federal Income Tax Returns from past 2 years
  • W2’s and 1099’s, if applicable, from past 2 years
  • Checking, savings or other asset account statements from past 2 months. All numbered pages and copies of originals.
  • Additional items may be requested based on your individual scenario

In-House Processing And Underwriting Makes F&M Mortgage Your Best And Quickest Option. Why Does This Matter?

We are one of the only lenders in the area where the decision makers (Underwriters & Processors) are located locally in your community. This means better communication and faster closing times. You can expect a quick turnaround on your loan and closing when you work with the mortgage advisors, underwriters, and processors we have on staff. Local lenders understand the nuances of our community and our values. Contact a member of our team to learn more or visit one of our conveniently located branches to get started on your next home mortgage.

Have Questions? Get In Touch

540-896-8941
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